Question: D borrows P10,000 from C.As security for the debt, it was agreed that Dshould Mortgage his parcel of land in favor of C.However, the document

D borrows P10,000 from C.As security for the debt, it was agreed that Dshould

Mortgage his parcel of land in favor of C.However, the document as written is one of Antichresis,the parties erroneously believing that it has the same effect as a mortgage.

What is the Status of the contract?Explain.

What is the remedy of the parties?Explain.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

1. D borrows P10,000 from C. As security for the debt, it was agreed that D should Mortgage his parcel of land in favor of C. However, the document as written is one of Antichresis, the parties...

D borrows P10,000 from C. As security for the debt, it was agreed that D should Mortgage his parcel of land in favor of C. However, the document as written is one of Antichresis, the parties...

ASSESSMENT TASKS - ASSIGNMENT 1 Page 2 ASSIGNMENT 1 Task Using the information contained in the Scenario below, please complete the following 6 tasks. You must complete each task for your submission...

(Questions from Lecture and Article) - Discussion Board Activity I need to read the following Lecture Note and the ?Wall Street Journal? articles that I uploaded, and writeanswers for theDiscussion...

Business Law Sales, credit, Pledge, specials laws 1.)A sold to B the former's horse for P5,000. No date is fixed by the parties for the performance of their respective obligations. The obligation of...

Review lecture, Art of Case Briefing, and read SCOTUS's opinion on Dep't of Homeland Sec. v. Thuraissigiam. After, write a case brief on Dep't of Homeland Sec. v. Thuraissigiam. Because this is a...

Business Law questions Sales, credit, Pledge and specials laws problems 1.)A sold to B the formers horse for P5,000. No date is fixed by the parties for the performance of their respective...

Sales, credit, Pledge and specials laws questions 1.)A sold to B the former's horse for P5,000. No date is fixed by the parties for the performance of their respective obligations. The obligation of...

Reference: Law on Sales by De Leon, Obligation and Contracts by De Leon, Notes in Business Law by De Leon For number 1 to 5 determine if: A.voidable B. unenforceable C. rescissible D. void or...

Consider the following reaction: 8NH3(g) + 3Cl2(g) ----> 6NH4Cl(s) + N(g) What is the volume of chlorine required to react completely with 36.0 dm of ammonia at s.t.p.? A. 10.8 dm B. 12.0 dm C. 13.5...

Calculate the value of a call option on the stock in the previous problem with an exercise price of 110. Verify that the put-call parity theorem is satisfied by your answers to Problems 9 and 10. (Do...

Meteor Company purchased inventory on March 4 , 2 0 2 4 , at a price of $ 4 1 , 0 0 0 . subject to credit terms of 2 1 0 . n 3 0 . Meteor uses the net method for recording purchases and uses a...

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....